Xero Surpasses One Million Subscribers

WELLINGTON, 30 March, 2017 - Xero Limited (NZX: XRO; ASX: XRO) today announces that it recently surpassed one million subscribers worldwide on its global cloud accounting platform. "Xero has doubled subscriber numbers in less than two years and has quickly grown to become a global leader in cloud accounting, adding nearly 300,000 subscribers in the last year alone," said Xero CEO and Founder, Rod Drury. "Achieving more than a million subscribers is a significant milestone, establishing Xero as a leading, global innovator of small business software. "One of our key growth strategies has been to develop a global channel of accountants and bookkeepers. There are now more than 100,000 business advisors in our global community which enables us to support small businesses around the world." About Xero Xero is beautiful, easy-to-use online accounting software for small businesses and their advisors. The company has over one million subscribers in more than 180 countries. Xero seamlessly integrates with over 500 apps. It was ranked No. 1 by Forbes as the World's Most Innovative Growth Company in both 2014 and 2015, while Canstar Blue rated Xero Australia's best accounting software in 2015 and 2016 based on research from 800 small businesses. About Subscribers In line with its previous definition, Xero measures subscribers as each unique subscription to a Xero offered product that is purchased by an accounting partner or an end user and which is, or is available to be, deployed. Media Contact Alex Mercer Xero Head of Communications +64 21 502 112 alex.mercer@xero.com End CA:00299068 For:XRO Type:GENERAL Time:2017-03-30 09:33:29